Nixon White House Tapes › Tape 14 › Conversation 014-010

Nixon phone call with an unidentified caller on Arthur F. Burns

Wednesday, November 10, 1971 · 1:31 PM–1:33 PM ET · White House Telephone · 2 min

ParticipantsNixon, Richard M. (President); White House operatorConversation014-010 on Tape 14 (tape position 00:03:41–00:05:16)StartWednesday, November 10, 1971 at 1:31 PMEndWednesday, November 10, 1971 at 1:33 PMRecording deviceWhite House TelephoneSourceNixon Library record for 014-010 ↗

AI Summary

President Nixon consulted with Federal Reserve Chairman Arthur Burns regarding an upcoming meeting with Congressman Wright Patman concerning national economic policy and interest rates. The President informed Burns of a planned reduction in the discount rate, intending to use this move as leverage to discourage Patman from pursuing mandatory legislative controls on interest rates. Nixon ultimately decided that Burns should not attend the meeting, opting for a one-on-one session to better manage the political rapport with Patman.

Audio

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Transcript (AI-generated)

This transcript was generated automatically by AI (WhisperX) and has not been reviewed for accuracy. Names and numbers are often wrong; speakers are not identified. Do not cite it as authoritative — verify against the audio and the finding aid.

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· Click a timestamp to play from that point; the page address then links to that moment (e.g. #t=125).
Hello.
Dr. Burns.
Yeah.
Yeah.
Hello, Arthur.
Yeah.
How are you, Mr. President?
Hi.
How are you?
Fine.
Did you have a good trip?
Oh, yeah.
I just got back from Chicago.
I know.
Yeah.
Look, I want you to know that we are reducing the discount rate today.
Oh, I see.
And that will be announced around 4 o'clock.
Yeah.
Right up to the market.
Right.
Right.
And this may help you when you talk to Mr. Patman.
Right, right.
The interest rates are moving and here is further evidence and that the market is working well and if he now tries to stabilize things by the legislative mandatory route,
then lenders are going to become more cautious, and they will not move interest rates down.
It can only harm.
And, of course, you can tell him when it's true, hell, you're eager to have interest rates come down, and you're with him completely on the objective.
I sent you some notes through my letter.
Yes, I got that.
Yeah, yeah, I know, I know.
And I'm going to get at this thing, and I was just wondering...
I don't think you ought to be with me when I see him.
I wondered.
I'm just thinking.
I think it's better.
I know.
It compliments him more if I see him.
I think it would be better.
I know.
And remember his new wife, Pauline.
Pauline.
How beautiful she is.
Okay.
Right.
So forth and so on.
Yeah.
Okay.
All right.
All right, Arthur.
Thank you for calling.
Not at all.
Bye.
Bye.

NARA Description

On November 10, 1971, President Richard M. Nixon and the White House operator talked on the telephone from 1:31 pm to 1:33 pm. The White House Telephone taping system captured this recording, which is known as Conversation 014-010 of the White House Tapes.

Nixon Library Finding Aid

Conversation No. 14-10

Date: November 10, 1971
Time: 1:31 pm - 1:33 pm
Location: White House Telephone

The President talked with the White House operator.

     Arthur F. Burns

The President talked with Burns.

[See Conversation No. 299-3]

     The President's trip to Chicago

     National economy
          -Reduction in discount rate
                -The President's forthcoming meeting with Wright Patman
                      -Interest rates
          -The President's forthcoming meeting with Patman
                -Burns’ presence
                -Pauline (Tucker) Patman

Also recorded on November 10, 1971

  • 014-009 1:20 PM · 6 sec — President Richard M. Nixon and the White House operator talked on the telephone at an unknown time between 1:20 pm and 1:31 pm.
  • 299-001 1:20 PM · 2 min — President Richard M. Nixon and Manolo Sanchez met in the President's office in the Old Executive Office Building at an unknown time between 1:20 pm and 1:31 pm.
  • 299-002 1:20 PM · 44 sec — President Richard M. Nixon and the White House operator met in the President's office in the Old Executive Office Building at an unknown time between 1:20 pm and 1:31 pm.
  • 616-008 1:20 PM · 1 min — United States Secret Service agents met in the Oval Office of the White House at an unknown time between 1:20 pm and 4:20 pm.
  • 299-003 1:31 PM · 1 min — President Richard M. Nixon and Arthur F. Burns met in the President's office in the Old Executive Office Building from 1:31 pm to 1:33 pm.
  • 014-011 1:33 PM · 5 sec — President Richard M. Nixon and the White House operator talked on the telephone at an unknown time between 1:33 pm and 2:27 pm.
  • 299-004 1:33 PM · 1 min — President Richard M. Nixon and unknown person(s) met in the President's office in the Old Executive Office Building at an unknown time between 1:33 pm and 2:27 pm.
  • 299-005 1:33 PM · 46 sec — President Richard M. Nixon and the White House operator met in the President's office in the Old Executive Office Building at an unknown time between 1:33 pm and 2:27 pm.

All 47 conversations from November 10, 1971 →

Cite this conversation

Conversation 014-010, November 10, 1971. White House Tapes, Richard Nixon Presidential Library and Museum, National Archives. Audio and AI transcript via Easy Nixon, https://www.easynixon.org/tapes/014-010 (accessed September 30, 2026).